Retirement Systems of Alabama Sells 75,174 Shares of Polaris Inc. (NYSE:PII)

Retirement Systems of Alabama reduced its holdings in shares of Polaris Inc. (NYSE:PII) by 54.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,658 shares of the company’s stock after selling 75,174 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Polaris worth $5,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PII. Envestnet Portfolio Solutions Inc. acquired a new position in Polaris during the 2nd quarter valued at about $205,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Polaris by 8.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company’s stock valued at $1,203,000 after buying an additional 1,186 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Polaris during the second quarter worth $143,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Polaris by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,201 shares of the company’s stock valued at $955,000 after buying an additional 1,366 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Polaris during the 2nd quarter valued at $587,000. 88.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PII. Royal Bank of Canada reduced their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. DA Davidson decreased their price objective on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. KeyCorp cut their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Robert W. Baird decreased their price target on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average price target of $87.09.

Polaris Stock Down 4.3 %

Shares of NYSE PII opened at $58.18 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The stock has a market capitalization of $3.24 billion, a PE ratio of 16.25, a P/E/G ratio of 6.59 and a beta of 1.51. Polaris Inc. has a one year low of $58.05 and a one year high of $100.91. The business’s fifty day moving average price is $69.90 and its 200-day moving average price is $76.88.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, equities research analysts anticipate that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.66 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.54%. Polaris’s dividend payout ratio is 73.74%.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.